Profit at Xerox fell 11% in third quarter; performance was worse than even a revised forecast suggested

Article Abstract:

Stamford, CT-based Xerox Corp.'s third-quarter earnings are extremely disappointing. The company reported that revenue was up only $4.63 billion from $4.61 billion and net income fell from $381 million to $339 million in the same period last year. Share price fell from 58 cents in 1998 to 47 cents, a difference of 11%. CEO G. Richard Thoman and CFO Barry D. Romeril forecast continuing sluggish results for the fourth quarter and first six months of the year 2000. Investors are selling-off Xerox shares at a lively rate, as well as shares of printer and printer-supplies companies Hewlett-Packard, Lexmark International and Electronics for Imaging. These three companies have also seen share prices fall. Xerox's consolidation and reorganization plans for its administrative centers and sales force have had a major hand in the company's poor performance.

Photographic equipment and supplies, Photocopy Equipment, Photographic and Photocopying Equipment Manufacturing, Sales, profits & dividends, Office equipment and supplies industry, Office equipment industry, Xerox Corp., XRX, Finance, Company sales and earnings, Company earnings/profit

Compact disk pictures offered by Kodak and Intel partnership

Article Abstract:

Eastman Kodak Company and the Intel Corporation unveiled a compact disk that is designed for pictures. The Picture CD provides digital versions of prints that photographers receive when they process film with software. The processing of film allows photographers to enhance, crop, and send the photos by e-mail. The new CD will have a price of $8.95 to $10.95, in addition to regular costs of processing.

Comment:

Eastman Kodak Company and Intel Corporation unveil a compact disk designed for pictures

Product introduction, New Products/Services, Motion Picture and Video Industries, Video Discs, Videodisks, Article, Intel Corporation, Eastman Kodak Company

Deal reached by Goodyear and Sumitomo

Article Abstract:

The deal formalized by Goodyear and Sumitomo, referred to as "a huge joint venture," gives Goodyear about a 10% stake in Sumitomo and gives Sumitomo a 1.4% stake in Goodyear. The venture puts Goodyear at the top of the world market for tire makers with its combined annual sales of about $15.5 billion.

Comment:

Stock deal validates the company's global partnership with Goodyear

Japan, Joint ventures, RUBBER AND MISC. PLASTICS PRODUCTS, Rubber Products, Rubber Product Manufacturing, Abstract, Rubber industry, Tire industry, GT, Goodyear Tire & Rubber Co., Sumitomo Rubber Industries Ltd.